The prices in real estate in Umkomaas, in the Kwazulu-natal region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Umkomaas has remained the same in the last 6 months. In November, the average price per m² was R 4 502. In the following month the price per m² decreased considerably to R 3 500. The price for the following two months in (January, February) had a considerable increment of 124 %. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 4 472,75 to R 4 627,5 during March y April
Based upon to the price in Umkomaas (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during November, is R 1 488 260. During December the price went through a considerable rise reaching R 1 712 452. During the following two months (January, February) the price has had an average incrementation from R 1 600 356 to R 1 803 958,5. During the last two months the average price has had a strong fall compared to the previous four going from R 1 702 157,25 to R 1 319 639, which means a 78 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 220 857 they are 47 % more affordable than the average price for Umkomaas. The properties with the highest average price have 3 bedrooms, Their price is 49 % more costly than the average. After that we have properties with 4 bedrooms priced at R 1 803 323.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of R 3 154 / m², with an average R 4 513 / m² price in Umkomaas. The properties with the highest average prices have 2 bedrooms. They are 39 % more expensive than the average followed by properties with 4 bedrooms with a price at R 6 222 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 220 857 it is 39 % cheaper than the average price in Umkomaas. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of R 1 353 755 it is 50 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Townhouse" at an average cost of R 5 135 / m² followed by "House" priced at R 5 232 / m². "Land" is the most costly type of property with a R 1 353 755 / m² cost followed by "Commercial Property" with an average price of R 757 559 / m².